This report will help you understand what products you need to order in advance so you do not run out and lose sales.

Important Note

This report is designed to be viewed 1 warehouse at a time, but you can select "All warehouses" which will add/combine all the values for those warehouse per product.

 

You have two options on how to use this report depending on your business process.

Forecasting based on sales history

Veeqo calculates your sell-out rate for a previous period (defaults to last 30 days) to predict your stock requirement for the future.

We calculate this working out the number of units sold and dividing by the numbers days in the date range you selected for the previous sales period. We then have a daily sales number which we can time by how many days/weeks you want to keep the product in stock for.

Other factors in the report which can influence the qty to order:

Sales uplift
Adjust you the sell our rate by a fixed %.  So if you set the previous sales history date to last December but know you are growing at 10% from the previous year, you can set the uplift to 10%

Stock holding time
The length of time you want your new order of stock to last, default to 4 weeks, but you can adjust to your needs.

We work out your daily sale rate (Units sold / Number of days in date period selected) and times that by the number of days in stock holding time.

Supplier lead time
Set a value in days per supplier per product and Veeqo will factor this in when working our your stock requirements.

Customer waiting on backorders
Order stock for orders which are waiting on the stock. When ON this will adjust “Suggested Qty” to add customer backorder qty. 

This qty is calculated by the number of product which is UNALLOCATED in orders with status WAITING FOR STOCK. 

Max Stock option
Optional. If enabled then Veeqo will cap the order qty to the "max" amount set for the product in that warehouse.

Forecasting on fixed minimum stock qty

Veeqo suggests the qty to order based on the minimum stock level you have set per product per warehouse.

The suggested qty is the Re-order qty you have set per product per the warehouse.

 
Max Stock option
Optional. If enabled then Veeqo will cap the order qty to the "max" amount set for the product in that warehouse.

Forecast report columns meaning

SKU
SKU stands for Stock keeping unit. A unique identifier per product variation.

Previous Sales (Units sold)

Total sales revenue for this product excluding sales tax and shipping revenue but includes discounts.

Units sold = sales of this product. Excludes the sale of this item from inside another product bundle/kit. You can toggle the "Include Kits" option to change this.

Supplier (Lead time)

Your default supplier for this product, which you can click and change to another supplier.

Lead time = numeric value in days for how long it takes for goods to be delivered after being ordered from the supplier.

Cost

The cost price of the selected supplier. Each supplier in Veeqo can have a separate price per product. You can overwrite this manually in the report.

Available (Days left to sell out)

Inventory available for sale which is calculated by stock on hand - committed.

Days left to sell out = Days/weeks/months left before this product runs out of stock based on sales period selected.

Customer backorder

Units from orders which have the status "WAITING FOR STOCK" and the line item has no inventory allocated to it.

Incoming

Inventory on order from a supplier. This comes from an active purchase order which has not been received yet.

In Transit

Inventory due to arrive from another of your warehouses

After

Inventory available when everything arrives from suppliers and warehouse transfers.

Calculated by: Available + incoming + In Transit - customer backorders

Min stock qty

Minimum stock qty you should keep for this product. Set per warehouse manually.

Max stock qty

Maximum stock qty you should keep for this product. Set per warehouse manually.

Qty to order (Days left to sell out)

Inventory qty you should order to have enough to cover stock holding time (i.e. 4 weeks) minus you After inventory qty.

Stock cover time qty is calculated by: (Number of days in period / units sold) * Number of days in stock cover.

Days left to sell out = Days/weeks/months left before this product runs out of stock based on sales period selected.

Forecast report options

With infinite stock

Off by default, when switched on it will show products are set to have infinite inventory qty.

Include kits

Off by default, when enabled it will add into Previous sales and units sold any of the product which was sold are part of another product bundle/kit.

Show default supplier

Off by default, when enabled it will only show suppliers which are the default for that product.

 
 Tips for getting most out of the report

  • Set a default supplier and cost price for each of your products.
  • Set a lead time for each product per supplier
  • If you prefer to set fix "minimum stock qty" rather than a forecast based on previous sales, then you should set a min/max/reorder qty per product per warehouse by finding the product and adjusting this qty in the app.

 

Bulk creating purchase orders for your suppliers

  1. Tick which products you would like to send your supplier order for.
  2. Select between using the products default supplier OR manually selecting a supplier.
  3. Choose if the purchase order will be draft or active and if it should email the supplier.
  4. OPTION: Add the items to an existing draft purchase order if it exists

 

 

Tips for sending suppliers a purchase order

  • You can only create a purchase order when you have only 1 warehouse selected. If you have set it to "All Warehouse" then this feature is blocked.
  • If you prefer to send your supplier one big order, then you can create a draft purchase order and then keep adding items to that same purchase order by using the option "Add items to existing draft purchase order".
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